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In recent years the costs of providing the card processing services we offer to you have risen significantly. At Streamline, we work hard to deliver efficiency savings which enable us wherever possible to offset these cost rises without compromising on the high quality service we are committed to giving to all of our customers.
You would have received a letter advising that from time to time, we need to review our prices to make sure that we can continue to give our customers the high quality service they expect.
These additional charges and adjustments will take effect as from 1st May 2012, and any revisions to your pricing structure would have been detailed on the back page of the letter headed Amendments to the Pricing Schedule. Please ensure you keep that document safely along with your Streamline Application Form and Terms and Conditions.
Understandably you may have some questions relating to these changes, and with this in mind we have compiled a list of frequently asked questions which are detailed below.
Q. Why have Streamline amended my Credit card pricing?
Q. Why has Streamline increased my Debit card pricing?
Q. Has higher interchange for these types of transactions recently been introduced?
Q. How do I identify these types of transactions?
Q. If I process a Mail Order transaction will I be charged the rate for Pan Key Entry (PKE)?
Q. Why is the charge for Inter-Regional transactions % and PPI for both credit and debit cards?
Q. Why have refund charges been introduced for Credit cards?
Q. Why have Streamline amended my Credit card pricing?
A. In recent years the cost of providing card processing services has risen significantly. Historically, Streamline has been able to absorb many of these increases, however a recent review has highlighted the need to increase pricing for credit cards to ensure pricing is in line with costs.
Q. Why has Streamline increased my Debit card pricing?
A. Streamline always strives to provide the best possible service at a sustainable price. However, given the current levels of cost to us, it is regrettable but necessary to pass this on by way of a revision to your current Debit card merchant service charge.
Q. Has higher interchange for these types of transactions recently been introduced?
A. There have always been different rates of Interchange relating to how transactions are captured in the system. Considering the costs involved in processing these riskier transactions, we now need to introduce some small additional charges.
Charges implemented
|
Type of Transaction |
Credit Card |
Debit Card |
||
|
|
% |
PPI (p) |
% |
PPI (p) |
|
|
|
|
|
|
|
Capture Method |
|
|
|
|
|
Magnetic Stripe
|
0.4 |
N/A |
N/A |
13 |
|
Mail/Telephone Order sales (Card Not Present) |
0.35 |
N/A |
N/A |
N/A |
|
E-commerce Non-Secure |
0.4 |
N/A |
N/A |
11 |
|
PAN Key Entry |
0.5 |
N/A |
N/A |
13 |
|
Locality |
|
|
|
|
|
Inter Regional |
1.03 |
5.4 |
1.03 |
5.4 |
Q. How do I identify these types of transactions?
A. These high risk transactions can be identified as follows:
Magnetic Stripe – The transaction has been classified as magnetic stripe at the point of sale. You should only use a mag stripe with signature to verify a transaction in exceptional cases. The main reason would be if the customer has a non-chip and PIN card. Your terminal will prompt you when you need to obtain a signature.
Mail and Telephone order sales - Card not present (CNP) transactions are those where the card and cardholder are not with you at the point of sale.
E-Commerce Non secure (eCom) – The transaction was undertaken over the internet but without any additional transactional security, such as Verified by Visa or MasterCard Secure code.
Pan Key Entry – The transaction was undertaken when the customer was present but the card details (PAN number, the long number on the front of the card) were entered in by hand.
Inter – Regional – The card accepted has been issued in a different country and is from a different region, e.g. the card was issued in Brazil but used in the UK.
For further information on these types of transactions please visit our Merchant Operating Instructions on www.streamline.com/customer-zone.
Q. If I process a Mail Order transaction will I be charged the rate for Pan Key Entry (PKE)?
A. No. If your agreement with Streamline permits the acceptance of Customer Not Present (CNP) transactions and the correct process is followed then the PKE additional charge will not apply. For information on processing CNP transactions please visit our Merchant Operating Instructions on www.streamline.com/customer-zone.
If your merchant account has not been set up for Customer Not Present (CNP) transactions then this additional charge will apply. Please check your Streamline Merchant Agreement to confirm if you can accept this type of transaction.
Q. Why is the charge for Inter-Regional transactions % and PPI for both credit and debit cards?
A. Both credit and debit cards are issued outside of the EU. Non EU debit cards attract both a % and a PPI cost hence the charging structure which has been applied..
Q. Is there anything we can do as a business to reduce the risk in accepting these types of transactions?
A. For further information on how you could help your business reduce these riskier transactions please click here www.streamline.com/avoiding-risk
Q. If you plan to charge extra for these riskier transactions, will my standard tariff be reducing given that they now exclude the riskier transactions?
A. No. Charging a little extra for these types of riskier transactions purely reflects the higher costs involved.
Q. Can I refuse to process these riskier transactions from now given that it is going to cost my business more money in additional charges?
A. Unfortunately not, however please be aware that you will only be charged when a transaction is captured in this way. The majority of cards processed will be unaffected by this e.g. Chip & PIN.
Q. How can I find out the changes that are planned by MasterCard and Visa in advance to enable me to budget effectively?
A. Changes made by the schemes are not typically published in advance, however please be assured that Streamline will always provide a minimum of 60 days written notice of any changes which result in adjustments to your Schedule of Fee’s.
Q. If my terminal malfunctions and I have to process a transaction either Pan Key or Magnetic stripe, why should I pay extra when it's not my fault?
A. The cost to Streamline for processing high risk transactions still stands. Understandably from time to time, a small number of customers may experience a problem with their Streamline terminal. Our commitment to our customers is an 8 business hour replacement. (We aim to fix or replace a 95% of our terminals within 8 hours of the fault being reported.)
Q.Why have refund charges been introduced for Credit cards?
A. Historically, we have absorbed these charges for Credit cards but we are unable to sustain this given the costs involved.
During 2010 Streamline made some changes to your invoice which resulted in a display of separate merchant service charges for Credit, Debit and Commercial Card types. We have now further enhanced your invoice to show any additional charges which have been applied broken down against each card type where they have occurred. The additional charges which can apply are detailed in the Additional Charges table within your letter. If more granular information is required then this can be requested via our Helpdesk but is only available via e-mail.